With online redraw you can tap into additional payments you’ve made on your eligible home or personal loan when you need them, from the convenience of your computer or mobile phone.

Whether it’s for a holiday, renovation, or for something unexpected, online redraw gives you peace of mind with access to payments you’ve made in advance 24 hours a day, 7 days a week.

Simply log on to Heritage Online internet banking or the Heritage Mobile Banking App to transfer funds to an account of your choice (subject to existing Heritage Online limits and standard transfer times between accounts).

How does online redraw work?

It works the same way as transferring funds from any other account online via internet banking or the Heritage Mobile Banking App.

If you have Payments in Advance available, simply select your eligible loan account to withdraw funds from and then select the account you would like to transfer the funds to. Once the transfer has been made, standard processing times will apply.

Online redraw for eligible loans is free.

Online redraw transfers can only be made to an Australian bank account, either at Heritage or to another Australian financial institution, i.e. no BPAY payments.

Any online redraw transfer amounts must fall within your existing Heritage Online internet banking limits. If you would like to transfer an amount outside of this, please call 13 14 22 or visit your nearest branch.

NPP faster payment capability is not available for Heritage online redraw transactions.

How do I activate online redraw?

Please contact us on 13 14 22 or visit your nearest branch to see if your loan is eligible for the online redraw feature.

You will need to be registered for Heritage Online to access the online redraw feature via internet banking or our mobile banking app.

To activate the online redraw feature you will need to complete a Redraw Authority form, signed by all borrowers on the loan.

If you’re an existing customer, you can access the Online Redraw Authority form from our website or simply contact us to request a copy. If you're a new customer, this form will be included in your loan documentation.

Heritage will process the form and activate the online redraw feature for you within two business days, provided we have received a fully completed form signed by all borrowers on the loan.